Switch, Inc. (SWCH) Financial Statements (2024 and earlier)

Company Profile

Business Address 7135 SOUTH DECATUR BOULEVARD
LAS VEGAS, NV 89118
State of Incorp. NV
Fiscal Year End December 31
Industry (SIC) 737 - Computer Programming, Data Processing, And Other Computer Related Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2022
MRQ
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 48,32590,71924,72181,560264,666
Cash and cash equivalents 48,32590,71924,72181,560264,666
Restricted cash and investments 1,890    
Receivables 18,36821,72323,36517,65416,386
Prepaid expense 10,2658,1717,1376,7815,037
Other current assets 4,6242,2353,8172,3322,101
Total current assets: 83,472122,84859,040108,327288,190
Noncurrent Assets
Property, plant and equipment 2,237,0591,737,4151,551,1171,302,7701,133,572
Intangible assets, net (including goodwill) 232,108    
Goodwill 106,350    
Intangible assets, net (excluding goodwill) 125,758    
Contract with customer, asset, after allowance for credit loss   3,216 
Deposits noncurrent assets 13,5042,6263,4293,3333,842
Deferred income tax assets 295,699203,201 
Other noncurrent assets 56,77648,36645,78517,0509,155
Other undisclosed noncurrent assets   111,15628,550 
Total noncurrent assets: 2,835,1461,991,6081,714,7031,351,7031,146,569
TOTAL ASSETS: 2,918,6182,114,4561,773,7431,460,0301,434,759
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities 80,33329,15840,02335,53730,614
Employee-related liabilities6,7864,8845,8285,2585,211
Accounts payable 55,26214,58819,47720,50118,934
Accrued liabilities 18,2859,68614,7189,7786,469
Deferred revenue 16,90514,870 
Debt 4,0003,5126,0006,0007,503
Derivative instruments and hedges, liabilities 8,0629,418   
Deferred revenue and credits11,482
Contract with customer, liability14,991 
Other undisclosed current liabilities 59,28646,64252,91633,49115,686
Total current liabilities: 168,586103,600113,93075,02865,285
Noncurrent Liabilities
Long-term debt and lease obligation 1,701,4951,016,749802,986600,032606,032
Long-term debt, excluding current maturities 1,611,962991,213745,372580,566586,566
Capital lease obligations57,61419,46619,466
Finance lease, liability 57,376  
Liabilities, other than long-term debt 34,28146,75940,9641,82319,382
Deferred revenue and credits19,382
Deferred revenue 25,92123,862 
Contract with customer, liability27,852 
Other liabilities 8,36022,89713,1121,823 
Operating lease, liability 32,15725,536 
Other undisclosed noncurrent liabilities 395,615336,381188,21874,7951,927
Total noncurrent liabilities: 2,131,3911,399,8891,032,168676,650627,341
Total liabilities: 2,299,9771,503,4891,146,098751,678692,626
Equity
Equity, attributable to parent, including: 329,637266,458207,451143,210108,894
Additional paid in capital 352,984266,129204,711140,191107,008
Accumulated other comprehensive income (loss) (568)79797931
Retained earnings (accumulated deficit) (23,022)92,4202,6931,602
Other undisclosed equity, attributable to parent 243241241247253
Equity, attributable to noncontrolling interest 289,004344,509420,194565,142633,239
Total equity: 618,641610,967627,645708,352742,133
TOTAL LIABILITIES AND EQUITY: 2,918,6182,114,4561,773,7431,460,0301,434,759

Income Statement (P&L) ($ in thousands)

9/30/2022
TTM
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues 592,045511,547462,310405,860378,275
Cost of revenue (339,637)(279,475)(242,679)(224,413)(198,230)
Gross profit: 252,408232,072219,631181,447180,045
Operating expenses (196,380)(136,659)(142,704)(126,768)(160,569)
Other undisclosed operating loss     (649)
Operating income: 56,02895,41376,92754,67918,827
Nonoperating expense (38,619)(52,508)(42,672)(23,418)(28,388)
Investment income, nonoperating 5,959    
Interest and debt expense (146)(245)(29,236)(26,370)(3,565)
Income (loss) from continuing operations before equity method investments, income taxes: 17,26342,6605,0194,891(13,126)
Other undisclosed income from continuing operations before income taxes 14624529,23626,3703,565
Income (loss) from continuing operations before income taxes: 17,40942,90534,25531,261(9,561)
Income tax expense (benefit) 2,658(4,530)(2,713)(1,943)981
Income (loss) from continuing operations: 20,06738,37531,54229,318(8,580)
Income (loss) before gain (loss) on sale of properties:20,06738,37531,54229,318(8,580)
Other undisclosed net loss (5,316)    
Net income (loss): 14,75138,37531,54229,318(8,580)
Net loss attributable to noncontrolling interest (9,339)(22,836)(22,625)(25,266)(6,628)
Net income (loss) available to common stockholders, basic: 5,41215,5398,9174,052(15,208)
Dilutive securities, effect on basic earnings per share  17,65117,339  
Net income (loss) available to common stockholders, diluted: 5,41233,19026,2564,052(15,208)

Comprehensive Income ($ in thousands)

9/30/2022
TTM
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss): 14,75138,37531,54229,318(8,580)
Other undisclosed comprehensive income (loss) (1,468)  331908
Comprehensive income (loss): 13,28338,37531,54229,649(7,672)
Comprehensive loss, net of tax, attributable to noncontrolling interest (8,518)(22,836)(22,625)(25,549)(6,732)
Comprehensive income (loss), net of tax, attributable to parent: 4,76515,5398,9174,100(14,404)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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